Universal economic pragmatism

World crisis will last for 5-7 years: expert

How world crisis will develop, before lecture the Russian economist and publicist Mikhail Hazin told about economy development at Institute of economic researches in interview.
World18 July , 00:00

"A question of crisis peak approach – a question difficult because it depends on a set of factors, at all the absolutely economic. There is the whole heap of factors. We left in a state of decline in world economy in 2008, we will fall slowly, then there will be a sharp recession, then again slow. In reality negative processes will last at least 5-8 years, and maybe it is more. Transition to relative growth can be only in a condition of formation of zones," Mikhail Hazin told.

Mikhail Hamzin is the Russian economist, the publicist, TV and the radio host. He was born in 1962. In 1979 he entered in the Yaroslavl state university. In 1980, he was transferred to the Moscow State University, in 1984 he graduated from mekhaniko-mathematical faculty (probability theory chair).